Finance is what makes the World go round. This sentence may not be literally true, but it still holds a lot of weight World over. Finance is what you need to do anything in the World. Every single thing that we can imagine- starting a company, recruiting people, innovation, research & development, marketing, sales, etc. they all need capital/ finance. Getting funds for all of this is what matters. The companies which do not focus on their finances are the ones that become bankrupt.
Due to the indispensable nature of finance, finance professionals are always trained to think like bankers and investors, .i.e. to think like people who are funding them or will be funding them. A finance professional is the one who instills the discipline required to manage a company professionally in order to ensure that it pleases its customers and its investors at the same time.
A great example for highlighting this is Kraft Heinz. In September 2017, they appointed David Knopf, a 29 year, old as the Chief Financial Officer of Kraft Heinz. Mr. Knopf has been with Heinz since 2015 and has handled budgeting and financial planning for many of its brands. He is also a partner at the Billion Dollar Private Equity Fund 3G Capital.
He is said to have been a key person for the $45 Billion merger of Heinz with Kraft and also the $11 Billion buyout of Tim Hortons by Burger King. It is his ability to go through every single transaction, plan the finances of brands, invest well and impress investors and bankers that make him an attractive choice to lead the company. This skill set makes him an important voice on the board. It is truly a remarkable achievement for someone so young to lead a behemoth with an illustrious history.
Most shareholders focus on someone with a finance background as your company may sometimes run into bad weather and may be forced to turn to capital markets and banks for funds to run your operations or to expand your operations.
Gaining such a lot of knowledge in a short period of time is difficult. One needs to learn from the best, work with the best and stay connected with the best in order to achieve what Mr. Knopf has achieved. BSE Institute Ltd (BIL) offers a short term course for working professionals and students to grow and learn from experts in the world of BFSI. You can know more by clicking here.
David Knopf has surely set a high bar for all those hoping to learn and grow fast, but it certainly isn’t impossible. Having the right knowledge and being present at the right place and at the right time can surely help you achieve much more than him.